(Photo: KIMIMASA MAYAMA, EPA)
Wall Street’s ride on the volatility rollercoaster isn’t over, but in yet another day of erratic price swings, the market’s attempts to end in positive territory provided mixed results Thursday, as angst-ridden investors weigh investment opportunities against slowing economic growth prospects, rising Ebola fears and the prospects of a prolonged market correction.
The Dow Jones industrial average — down over 200 points in early trading, ended off 24.5 points to 16,117. It was Dow’s sixth straight loss, the longest losing streak since August 2013 and the blue chip barometer’s lowest close since April 11. The Standard & Poors 500 stock index added 0.27 points to 1,862, while the Nasdaq composite, down 1.3% earlier, rose 2 points to 4,217. The small stock Russell 2000 climbed 1.5% to 1,088, it’s third straight gain.
The mood of the market, however, remains pessimistic, as Asian markets were battered earlier, while European exchanges extended Wednesday’s losses. Japan’s Nikkei 225 sank 2.2%, and the Hang Seng was off 1%, while Britain’s FTSE 100 was off 0.25% and France’s CAC 40 fell 0.5%. Germany’s DAX ended virtually flat after Wednesday’s 1% slide.
Gunshy investors largely ignored a fresh spate of good economic news, including a Labor Department report that initial jobless claims had fallen to a seasonally adjusted 264,000 last week – lowest in 14 years. Separately, the Federal Reserve said September industrial output rose 1%, the largest jump since May 2010, offsetting fears that the U.S. economy was being crimped by slowing growth abroad.
Source: USA Today | Adam Shell and Gary Strauss
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